RenovaCare Inc., developer of the SkinGun and CellMist System for spraying a patient’s own skin stem cells onto burns and wounds for rapid self-healing, has appointed Harmel S. Rayat, longtime majority stockholder, as board chairman.

Rayat has invested nearly $6 million in RenovaCare and its stem cell spray technologies. His early investment resulted in significant advancements to the SkinGun, including:

Engineers miniaturized an external power source from the size of a small microwave-oven down to a nine-volt battery;

Nearly two dozen hand-assembled parts were replaced with a single disposable attachment for spraying a patient’s stem cells onto burns;

New patents were filed in multiple jurisdictions to bolster the company’s intellectual property portfolio and provide important commercial protections; and,

Pre-clinical work was completed in support of the company’s regulatory pathway.

Following these efforts, RenovaCare recently announced positive outcomes from its pre-submission meeting with the U.S. Food and Drug Administration (FDA).

Over 70 burn patients have been treated using the technology behind the RenovaCare SkinGun, many leaving the hospital within a matter of days. Severe second-degree burn patients can be treated in as little as 90 minutes with a gentle spray of their own stem cells isolated from a postage stamp sized donor site.

The SkinGun technology has been validated in numerous peer-reviewed scientific papers and widely-covered in mainstream media, including Bloomberg, Forbes, CNN, National Geographic, Newsweek, and others.

In his role as chairman, Rayat will work with the Board of Directors to support RenovaCare President and CEO Thomas Bold, senior company management, and clinical and regulatory teams as they work to bring the company’s cell spray therapies to market.

Having invested in a wide range of technologies and industries over several decades, Rayat is an established entrepreneur-investor, best known for his portfolio of Class-A commercial properties in the United States and Canada. Starting with a personal investment of $20 million in 2006, Rayat has since built a commercial real estate portfolio valued at $185 million, using modest leverage. His portfolio has generated annualized return on equity of 42 percent per year for the 12 years ending Dec. 31, 2017, compared to 11 percent for the Dow Jones Industrial Average and 17 percent for NASDAQ.

RenovaCare products are currently in development. They are not available for sale in the United States.

RenovaCare Inc. is developing first-of-its-kind autologous (self-donated) stem cell therapies for the regeneration of human organs, and novel medical grade liquid sprayer devices. Its initial product under development targets the body’s largest organ, the skin. The company’s flagship technology, the CellMist System, uses its patented SkinGun to spray a liquid suspension of a patient’s stem cells (the CellMist Solution) onto wounds. RenovaCare is developing its CellMist System as a promising new alternative for patients suffering from burns, chronic and acute wounds, and scars. In the United States alone, this $45 billion market is greater than the spending on high-blood pressure management, cholesterol treatments, and back pain therapeutics.

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